So the next slide will show you how it plays into the ranges that we get in the beginning of the year. In the beginning our regional range for revenues was between $2.34 billion to $2.51 billion in revenues. You can see with the fourth quarter now, the range is narrow. I mean, we have three quarters behind us already. And I think you’ll see it’s right in the middle. Well, I’m actually — it’s pretty good to see that, especially as we had a year that wasn’t easy first two or three quarters. Non-GAAP EPS is — we are actually even revising the range here and taking the range up. So the original rate was $7.70 to $8.30, the new range is already start at $8.20 and goes up all the way to $8.40. So, this is already expected to be at the top end and maybe even over the original range that we provided.
I think these are very good projection. I think we show a lot of, I think, positivity on our side, with a little bit cautious on the revenue side, which I think is always a good thing to do. So overall, I think that we had very good results. I think we’re having decent projections and I would be very happy to hear your questions and comments about our business. Thank you very much and let’s open the call to your question.
A – Kip Meintzer: As always, during question-and-answer period, please limit your questions to one so we can get to everybody. Today, we’re going to start off with Gabriela Borges from Goldman Sachs, followed by Adam Borg of Stifel.
Gabriela Borges: Good evening. And thank you. And our thoughts are with you and all of the Check Point employees on the ground in Israel. I wanted to ask a little bit about your 2024 planning assumptions as you think through what next year could look like. Maybe Gil, share with us some of the positive indicators that you mentioned in your prepared remarks that are leading you to perhaps think through — help us think through what the implications are from the positive indicators through to billings growth. In other words, when do you think we’ll see a more material inflection in billings growth? Thank you.
Gil Shwed: So I think — first, thank you for that. And it’s too early. We still don’t have the 2024 projections. We’re just starting to work on the 2024 plans, but we already have some thoughts about that and I would say there’s three factors that contribute to that. One is the technology and the new area that we are in is one. Second is our customer engagement and the level of activity that we have in the field. And the third one is the market itself, which is a little bit beyond our controls. So from the — and I think this year, we really — we did — our field did an amazing job in increasing the engagement that we do with customers, we’ve pretty much doubled our engagement rates with our customers, both with the existing customers and even more so with the prospect.
And there’s still plenty that we can do, we still can reach many more prospects for example and we still can do more in the qualitative side of the engagement, but we’ve made a real evolution and I think there is plenty of credit with our people on the ground in the different countries in the field that’s done this year. So now all three things when you engage with the customer that you haven’t met for a long time, when you start the conversation, it takes between, I would say, it depends on the situation. I would say between six to even 18 months until its fruitful. The reason I’m saying that, because usually the field will say I’m already engaged with the customers that have the current opportunities. Getting me to meet with somebody new, it’s usually the one that’s knocking on our door and doesn’t have the current opportunity.
So these are a little bit longer term customers. I think that we will see the results from where — and I think we’ve seen a bigger evolution in this engagement in the second and third quarter. So that means that we can be optimistic about some of these engagements turn into deals and pipeline in next year. We already see the correlation. I mean, the more meetings, the more engagement with customers, the bigger the pipeline with that customers. It’s a very direct correlation. So I think that’s one sign and that’s about our activity. Second, in technology, we have much more and we’ve seen with some of our new technologies are sticking and are working well. I think we will see a lot of demand for SASE solution, it’s a healthy market with high growth.
So I expect. we’re — again, we’re just in the first few weeks in that market, so I don’t have indicators that are too strong, but I’m very optimistic on their. For example, on the email side of things that we’ve got into like two years ago. I think a year and a half ago, we already see a very healthy, not just pipeline, we see very good results and very high growth. So, I hope that we can repeat that success with the SASE industry. Same thing with our overall vision, our overall architecture, which I think is the most important and that’s the Infinity umbrella. And I think with Infinity, we’re seeing very nice growth. And again, it of course ties to, are we engaging with high enough people in the organization. Are we [indiscernible] into our vision.
